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A second hand motor car was purchased on credit from B Brothers for Rs. 10,000.
- a)Journal Proper (General Journal)
- b)Sales Book
- c)Cash book
- d)Purchase Book
Correct answer is option 'A'. Can you explain this answer?
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A second hand motor car was purchased on credit from B Brothers for Rs...
Answer:
Journal Proper (General Journal)
The purchase of a second hand motor car from B Brothers on credit for Rs. 10,000 should be recorded in the Journal Proper as follows:
Date Particulars L.F. Debit Credit
Rs. Rs.
[Date of Purchase] B Brothers A/c Dr. 10,000
To Purchase A/c 10,000
Sales Book
The Sales Book is not relevant in this transaction, as it is a purchase of a motor car and not a sale.
Cash Book
The Cash Book is not relevant in this transaction, as it is a purchase on credit and not a cash transaction.
Purchase Book
The Purchase Book is not relevant in this transaction, as it is a purchase of a second hand motor car and not a purchase of goods for resale.
Therefore, the correct answer is option 'A' - Journal Proper (General Journal).
Journal Proper (General Journal)
The purchase of a second hand motor car from B Brothers on credit for Rs. 10,000 should be recorded in the Journal Proper as follows:
Date Particulars L.F. Debit Credit
Rs. Rs.
[Date of Purchase] B Brothers A/c Dr. 10,000
To Purchase A/c 10,000
Sales Book
The Sales Book is not relevant in this transaction, as it is a purchase of a motor car and not a sale.
Cash Book
The Cash Book is not relevant in this transaction, as it is a purchase on credit and not a cash transaction.
Purchase Book
The Purchase Book is not relevant in this transaction, as it is a purchase of a second hand motor car and not a purchase of goods for resale.
Therefore, the correct answer is option 'A' - Journal Proper (General Journal).
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Community Answer
A second hand motor car was purchased on credit from B Brothers for Rs...
Because an asset was purchased.Sales book records only credit sales of goods.Cash book records cash purchases and Purchase book records credit purchases of goods.Therefore the only option left is (a).No subsidiary book is made to record credit purchase of assets.Hope it will help u
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A second hand motor car was purchased on credit from B Brothers for Rs. 10,000.a)Journal Proper (General Journal)b)Sales Bookc)Cash bookd)Purchase BookCorrect answer is option 'A'. Can you explain this answer?
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